Northern Cyprus Mortgage
Obtaining a mortgage in Northern Cyprus is currently uncommon. However, it is expected that the option to finance your property investment through a mortgage in Northern Cyprus will be more readily available in the very near future. Once the Northern Cyprus mortgage market matures, foreigners who plan to buy in Northern Cyprus will benefit from an added advantage to their property investment.
It's important to consult your solicitor for the very latest information on Northern Cyprus mortgages as well as up-to-date advice on current financing options available when you buy in Northern Cyprus. Alternatives to a mortgage in Northern Cyprus include equity release on your current properties.
Northern Cyprus Tax
Property investment in Northern Cyprus entails a purchase process that may differ from those you are familiar with. Expert legal advice will ensure you understand the law in Northern Cyprus and have up-to-date Northern Cyprus tax information. The law in Northern Cyprus requires the payment of several taxes when you invest in Northern Cyprus, including transfer tax, stamp duty and VAT.
You will find no restrictions on ownership when you buy in Northern Cyprus, although investors in Northern Cyprus real estate need a purchase permit. Again, it's important to take expert advice on this aspect of law in Northern Cyprus.
Download more information about Northern Cyprus in our Northern Cyprus country guide.
